Category: Grab

SINGAPORE – Singapore’s competition watchdog on Monday (Sept 24) fined ride-hailing firms Grab and Uber a combined $13 million for their merger in March, which saw the sale of Uber’s South-east Asian business to Grab for a 27.5 per cent stake in Grab. Grab was fined about $6.4 million while Uber was fined about $6.58 million by the Competition and Consumer Commission of Singapore (CCCS). In a statement, the CCCS reiterated its decision that the deal between the two firms had reduced competition in the ride-hailing scene and said it…